Georgia factories index rises

From Morris News Service
ATLANTA  — Activity at Georgia manufacturing plants picked up slightly in September, according to a report released Monday by Kennesaw State University.
KSU’s Econometric Center’s Purchasing Manager’s Index rose 1.6 points to 52.0, just above the national index of 51.5 which also jumped up two ticks. Generally, economists consider a reading above 50 as indicating growth in the overall economy.Managers who buy supplies for their factories complete the monthly survey which asks about various aspects of their business. More managers reported an increase in their orders for new business compared to the number who said orders were off.
“The Georgia PMI stopped its four-month decline based on the strength of an 8 point new-orders increase. Although new orders tends to be volatile, it may be a signal that the PMI decline has ended, but remains weak,” said Don Sabbarese, director of the Econometric Center.
More companies say they have a shrinking inventory of finished goods, but many also noted they have cut back production. Still, 20 percent of those answering the survey expect production to rise over the next three to six months, an increase from the 14 percent predicting it in August.
Yet, at the same time, the employment index also climbed by 1.9 points.
That hiring may not accompany inflation since managers reported they are paying less for the commodities they use, driving the commodity-price index down 3.9 points.

More Business

Ask the Boss: Nathan Reese, Reese Services

How long have you been in business and how did you get started? We have been in business for 35-and-a-half years. We started on May 13, 198 ... Read More

Business Briefs

SouthTowne General Motors to provide Southern Soccer Academy Coweta with new equipment SouthTowne General Motors Superstore is partnering w ... Read More

Ask the Boss

Shannon Woods, Woods & Company

How long have you been in business and what inspired you to become a professional photographer? I have been in business since 2010. I used ... Read More

Business Briefs

Publix celebrates 85 years of making shopping a pleasure Publix Super Markets celebrates 85 years of business this month. Publix was found ... Read More

Yancey Dental Practice Hails Three Generations

Many families have traditions when it comes to career choice. It may tradition for all of the family to join the military or to teach or bec ... Read More

Business Briefs

Mike Winslett joins Full Circle TMS Board of Advisors Local business owner, Mike Winslett, has been named to Full Circle Transportation Man ... Read More